Inseego Corp. (NASDAQ:INSG) had its price target increased by Canaccord Genuity from $1.25 to $1.50 in a report issued on Tuesday. The brokerage currently has a hold rating on the technology company’s stock.
Several other brokerages have also recently weighed in on INSG. Zacks Investment Research cut Inseego Corp. from a hold rating to a sell rating in a report on Monday, May 1st. ValuEngine upgraded Inseego Corp. from a strong sell rating to a sell rating in a report on Tuesday, June 27th. Finally, Northland Securities set a $2.00 target price on Inseego Corp. and gave the stock a buy rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $2.00.
Inseego Corp. (NASDAQ INSG) traded up 6.19% during midday trading on Tuesday, hitting $1.20. The stock had a trading volume of 425,252 shares. The company’s market cap is $67.17 million. The firm has a 50-day moving average of $1.26 and a 200-day moving average of $1.89. Inseego Corp. has a 12-month low of $0.87 and a 12-month high of $3.80.
Inseego Corp. (NASDAQ:INSG) last issued its earnings results on Monday, August 7th. The technology company reported ($0.21) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The business had revenue of $59.91 million for the quarter, compared to analysts’ expectations of $55.11 million. Inseego Corp. had a negative return on equity of 204.22% and a negative net margin of 32.34%. Equities research analysts forecast that Inseego Corp. will post ($0.34) EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Inseego Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,050,470 shares of the technology company’s stock worth $1,313,000 after buying an additional 25,100 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Inseego Corp. by 2,239.6% in the first quarter. Goldman Sachs Group Inc. now owns 696,502 shares of the technology company’s stock worth $1,456,000 after buying an additional 666,732 shares in the last quarter. Spark Investment Management LLC boosted its position in Inseego Corp. by 55.1% in the first quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock worth $122,000 after buying an additional 20,900 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Inseego Corp. during the fourth quarter worth approximately $1,748,000. Finally, Dimensional Fund Advisors LP acquired a new position in Inseego Corp. during the fourth quarter worth approximately $1,485,000. Hedge funds and other institutional investors own 12.36% of the company’s stock.
Inseego Corp. Company Profile
Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.
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